html On July 5, Tianyu Real Estate released insider information saying that it is still facing the maturity of the principal and interest of certain group debts in 2022, which has constituted the company's outstanding event and triggered cross-default on all the group's overseas debts.
The management of the group has made great efforts, but still cannot succeed in the extension, which has caused the group to suffer heavy losses in overseas debt and also makes the group face unprecedented and huge liquidity pressure at this stage.
The company has decided to proceed with its debt restructuring plan in an orderly manner under the guidance and supervision of the Low Intervention Provisional Liquidators and the Bermuda Courts. In appointing low-level intervention provisional liquidators and applying for winding-up petitions.
I have said before that if this debt cannot be successfully extended, a substantial default will occur. However, I did not expect that if it defaults, it will not lie down like other real estate companies and wait for passive restructuring. Instead, it will reorganize the debt and liquidate it on its own. Petition.
At present, Tianyu Real Estate's debt gap is already very large, and it has no choice but to suffer a thunderstorm on its own.
The company's operating cash flow gap expanded from 339 million yuan to 1.463 billion yuan. The company's return on net assets (ROE) also experienced a sharp decline in 2021, falling from 24.11% in 2020 to -6.63%.
As of December 31, 2021, Tianyu Real Estate’s total interest-bearing liabilities were 11.476 billion yuan.
Moreover, according to the data statistics in the mini program [Click on the ticket eye to view details], it was also found that Tianyu Real Estate has refused to pay commercial bills. Its subsidiaries have refused to pay 4 commercial invoices, involving an amount of 40 million yuan.
stated in the 2021 fiscal year annual report released by the company that the company achieved operating income of 7.663 billion yuan in 2021, a year-on-year decrease of 0.51%; gross profit was 1.697 billion yuan, a year-on-year decrease of 21.73%; net profit attributable to the parent company turned from profit to loss year-on-year. The net loss was 284 million yuan, and the basic earnings per share was -0.04 yuan.
Tianyu Real Estate’s thunderstorm is still very representative.
